RATIONALE: Drugs used in chemotherapy, such as carboplatin and prednisone, work in different ways to stop the growth of tumor cells, either by killing the cells or by stopping them from dividing. Everolimus may stop the growth of tumor cells by blocking some of the enzymes needed for cell growth and by blocking blood flow to the tumor. Giving carboplatin together with everolimus and prednisone may kill more tumor cells.

PURPOSE: This phase II trial is studying how well giving carboplatin together with everolimus and prednisone works in treating patients with metastatic prostate cancer that progressed after docetaxel.

Time to Progression (TTP) [ Time Frame: Up to 63 days while on treatment, then up 90 days thereafter. From date of registration to date of progressive disease. ] [ Designated as safety issue: No ]

Progression defined as at least a 20% increase in the sum of the longest diameter (LD) of target lesions taking as references the smallest sum LD recorded since the treatment started or the appearance of one or more new lesions.

To evaluate the time to progression (TTP) achieved with carboplatin and everolimus in patients with castrate resistant metastatic prostate cancer that progressed after docetaxel-based chemotherapy.

Secondary

To evaluate the safety of this regimen.

To assess the PSA response rate in patients treated with this regimen.

To evaluate the overall survival (OS) outcome in these patients.

To investigate the association of TTP and PSA response rate with correlative markers, such as phospho mTOR, pAKT, and p70S6.

To evaluate the pharmacokinetics of this regimen.

To explore the association of TTP, OS, and circulating tumor tumor cell count.

OUTLINE: Patients receive carboplatin IV over 30-60 minutes on day 1, oral prednisone twice daily on days on days 1-21, and oral everolimus once daily on days 2-21 of course 1 and on days 1-21 of subsequent courses. Courses repeat every 21 days in the absence of disease progression or unacceptable toxicity.

Fasting serum cholesterol ≤ 300 mg/dL OR ≤ 7.75 mmol/L AND fasting triglycerides ≤ 2.5 times ULN (in the case that one or both of these thresholds are exceeded, the patient is eligible only after initiation of appropriate lipid-lowering medication)

Fertile patients must use effective contraception during and for ≥ 6 months after completion of study treatment

Willing and able to comply with this study

Able to ingest oral medication

No other malignancies except non-melanoma skin cancer or any other adequately treated cancer in complete remission for ≥ 2 years

No significant traumatic injury within the past 4 weeks

No active (acute or chronic) or uncontrolled severe infections

No severe and/or uncontrolled medical conditions or other conditions that could affect study participation, including the following:

No known hypersensitivity to everolimus or other rapamycins (sirolimus, temsirolimus) or to their excipients

No history of noncompliance to medical regimens

No uncontrolled diabetes mellitus

PRIOR CONCURRENT THERAPY:

See Disease Characteristics

At least 1 prior docetaxel based regimen for metastatic disease

Docetaxel based combination therapy or docetaxel alone considered as 1 regimen

No more than 2 prior chemotherapy regimens for metastatic disease

No prior treatment with an mTOR inhibitor (sirolimus, temsirolimus, everolimus)

At least 6 weeks since prior bicalutamide or nilutamide

At least 4 weeks since prior flutamide

More than 4 weeks since prior and no other concurrent investigational drugs

More than 4 weeks since prior and no other concurrent anticancer therapies (including chemotherapy, radiotherapy, or antibody-based therapy)

More than 4 weeks since prior and no concurrent major surgery (defined as requiring general anesthesia) and recovered

More than 1 week since prior and no concurrent immunization with attenuated live vaccines

No concurrent chronic, systemic treatment with corticosteroids or other immunosuppressive agents

Topical or inhaled corticosteroids are allowed

No concurrent prophylactic growth factors

Concurrent bisphosphonate therapy allowed

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Please refer to this study by its ClinicalTrials.gov identifier: NCT01051570